Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.

Jefferies analyst, Akshay Jagdale, reiterated his Buy rating on shares of Hain Celestial (NASDAQ: HAIN) and cut his price target to $50.00 (from $57.00) after the company announced an audit committee review of concessions granted to distributors in the US. Separately, the company said it does not expect to achieve its FY16 guidance.

The analyst stated that he "can’t reasonably estimate the magnitude/timing of this event. However, we view the stock weakness (- 25% pre-mkt) as a potential buying opportunity; we see value in the company’s brands, category exposure & cash flow. Worst case, probability of a buyout is now higher".

For an analyst ratings summary and ratings history on Hain Celestial click here. For more ratings news on Hain Celestial click here.